China gets new leaders, but same problems
By Nikki De Guzman:Despite more stringent efforts by China's outgoing government, recurrent issues in the property market will be inherited by the country's new leaders, reported Bloomberg.Existing leaders rolled out their last attempt to cool the market on 1 March, but the measures took its toll...
Continue Reading • 15 Mar 2013
65% slump in new private home sales
By Romesh Navaratnarajah: Singapore's recent slew of cooling measures combined with the Chinese New Year break have hit the property market hard.708 new private homes were sold in February 2013, a 65 percent drop compared to the 2,013 units sold in the previous month, according to data from the...
Continue Reading • 15 Mar 2013
Savills enjoys record growth, boosted by Asia
By Nikki De Guzman:Property firm Savills posted robust 2012 results, driven by its strong footing in the UK and a record year in Asia Pacific, reported The Telegraph. The UK-based consultancy saw a 36 percent rise in pre-tax profit at £54.2 million (S$102.06 million) last year, backed...
Continue Reading • 15 Mar 2013
More S'poreans eyeing luxury homes across causeway
By Shabnam Muzammil:Iskandar Malaysia and Kuala Lumpur are set to see more interest from Singaporeans looking for luxury residential properties, noted Knight Frank Malaysia.Sales will be partly driven by the recent announcement of a high-speed rail development that will considerably reduce travel...
Continue Reading • 15 Mar 2013
D'Nest sales preview launches with 7% discount
By Romesh Navaratnarajah: D’Nest, a new luxury nature-inspired condominium development in Pasir Ris begins its preview today, offering home buyers a range of one- to five-bedroom units and penthouses. The 912-unit project is developed by a consortium led by City Developments Limited (CDL)...
Continue Reading • 15 Mar 2013
US county prepares for property boom
By Nikki De Guzman:New London County located in the southeastern corner of the US state of Conneticut is set to become one of the country's best performing housing markets over the next five years, with home values expected to rise by an average of 7.1 percent per year. According to...
Continue Reading • 14 Mar 2013
Proposed housing curbs won't affect current owners: Khaw
By Romesh Navaratnarajah:National Development Minister Khaw Boon Wan clarified in his latest blog post today that regulations on public housing to make flats more affordable in future will apply to new buyers and not current homeowners. His statement was made in response to concerns from a...
Continue Reading • 14 Mar 2013
Dubai to get a rainforest-skyscraper
By Shabnam Muzammil:The model of a skyscraper covered with plants and trees will be showcased at the Outdoor Design Build & Supply Show in Dubai later this month. The new tower is part of the growing popularity of eco-friendly projects in the United Arab Emirates. Designed by French architect...
Continue Reading • 14 Mar 2013
Germany trumps UK as most attractive property locale
By Romesh Navaratnarajah:Germany has emerged as the most attractive real estate market in Europe for 2013, outshining the UK as investors venture back to the continent due to the unlikely break-up of the Eurozone, according to a research survey by CBRE. The study, which polled 362 investors...
Continue Reading • 14 Mar 2013
Buyer interest in Thailand luxury homes to continue
By Shabnam Muzammil:Despite last year's floods, Thailand's property market remains resilient, with Bangkok recording a growth of 9.4 percent last year, while demand for Phuket's luxury properties climbed 4.7 percent. In particular, condominiums in Bangkok proved a hit with buyers. Knight...
Continue Reading • 14 Mar 2013
Iskandar property prices may surpass Klang Valley
By Farah Wahida:Spurred by the mega government-to-government joint venture projects and strong support from Singapore, Iskandar’s property market is expected to catch up with that of Malaysia’s Klang Valley, according to Kenanga Research and reported The Borneo Post.The research house...
Continue Reading • 14 Mar 2013
China property bubble will burst in 2013: analyst
By Shabnam Muzammil: An analyst has forecasted that China's property bubble will burst in the second half of 2013 once the government stops "injecting ridiculous amounts of credit into the economy". Gillem Tulloch, founder of Hong Kong-based research firm Forensic Asia, noted that the...
Continue Reading • 14 Mar 2013
Sysma reports profit growth
By Romesh Navaratnarajah: Singapore-based Sysma Holdings has seen its half year net profit for 1H2013 increase by 17.7 percent to S$3.1 million, compared to S$2.6 million achieved during the same period last year. Sin Soon Teng (pictured), CEO of Sysma, said: “The half year results were...
Continue Reading • 13 Mar 2013
New London project launching in town
By Romesh Navaratnarajah: Singapore buyers and investors still see London as a safe haven for property investments, more so now after January’s cooling measures. To cater to this strong interest, UK developer Regal Homes will launch a new 91-unit residential project at an exhibition at...
Continue Reading • 13 Mar 2013
Number of super-rich Asians to surge
By Nikki De Guzman:The number of high-net-worth individuals (HNWIs) in Asia is expected to surge by 88 percent in the next decade, the largest rate of increase of any region, according to intelligence firm Wealth-X. Asia will become the largest hub for HNWIs outside of North America by 2020, with...
Continue Reading • 13 Mar 2013
MIPIM set for China expansion
By Andrew Batt: Real estate exhibition organisers Reed MIDEM have revealed plans for a new event – MIPIM China – which is set to take place in Shanghai in 2014.The 8th edition of MIPIM Asia will take place in Hong Kong on November 5-6, 2013 and will focus exclusively on a high-level...
Continue Reading • 13 Mar 2013
Plans for London 'floating village'
By Andrew Batt: The Mayor of London has unveiled ambitious plans to create the UK's largest 'floating village' as part of his on-going drive to transform London's Royal Docks.Launching an international competition to find developers and London partners to design and deliver the scheme, Mayor...
Continue Reading • 13 Mar 2013
Euro fund sells luxury Brussels property for S$89m
By Romesh Navaratnarajah: A prime mixed development in the bustling Belgian capital Brussels has been sold for €55 million (S$89.4 million). Eurozone Equity, an actively managed equity fund with the help of Savills sold the property, known as Louise Village to local private...
Continue Reading • 12 Mar 2013
Tanah Merah the next hotspot?
By Shabnam Muzammil: Tanah Merah is fast becoming a popular destination for property hunters following the launch of new developments in the vicinity, especially near the MRT station, reported The Straits Times. The area has seen the rise of three new projects in the last few years. The...
Continue Reading • 12 Mar 2013
Global salary guide unveiled to help companies
By Nikki De Guzman: Human resources consultancy ECA International has launched a National Salary Comparison report which provides a guide on local pay levels among wealth managers across 55 countries.It allows companies to check whether an individual’s spending power would be maintained if...
Continue Reading • 12 Mar 2013